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Wednesday 24 May 2017

2017-05-23

[B] Tullow eyes new fields beyond Jubilee & TEN
[B] ECG concession: bidders reduced to 6; MIDA sets eyes on financially viable bidde
[B] Former MP demands details on the 150 investors for ‘1-district, 1-factory'
[B] We need power to turn economy around – Agyarko
[S] Akufo-Addo's changes to ECG 'sale' agreement quite impressive - PUWU
[N] Kumbuor approved military protection for Ukraine, Russia galamseyers – MP
[N] 9 cars burnt, shops destroyed in a fire outbreak at Suame Magazine
[N] I insist Baba Jamal is involved in galamsey - Wontumi
[N] Man found dead in an abandoned dam
[N] 495 allied health professionals get financial clearance
[N] Spio Garbrah should be commended for GSA scandal investigations - Sorogho
[N] Alex Segbefia urges prosecution of culprits in Central Medical Stores fire
[N] Crentsil and family squandered GSA funds – PRO
[N] Ghana needs measures to stop illegal migration - Dr Ocansey
[N] Three (3) Ghana Gas helicopters missing
[N] Military protecting illegal mining sites – Amewu
[N] Amewu arrest 4 for engaging in galamsey at Amadaa
[N] Pastor, fetish priest clash over juju money

2017-05-22

[S] I lose nothing over Ghana banishment – KP Boateng
[S] Tony Baffoe urges government to create fund for Black Starlets
[B] Dumsor hit Vodafone Ghana badly - CEO
[B] Government to invest 30% only in 'One-District One-Factory' - Alan Kyeremanten
[B] Dollar has taken a commanding lead again
[B] Atuabo project was bloated by over $40m – Dr. Manteaw
[B] ECG using outdated methods to recover debts - NDC MP
[B] BoG reduces policy rate to 22.5%
[N] I’m not naive about corruption – Akufo-Addo
[N] Police begin manhunt for Tatale robbers
[N] Teenage pregnancy declines in Ashanti
[N] $13.9 million Veep's residence abandoned?
[N] UCC sued over suspension of 22 students
[N] Two fake soldiers arrested
[N] Otumfuo supports ban on Galamsey
[N] Government worried about Alavanyo-Nkonya killings – VR Minister  
[N] Politicians mourn with Woyome
[N] NDC chair, 4 robbers and 2 others killed in robbery gun battle
[N] 15 'corrupt' customs officers fired
[N] 3 robbers killed in shootout with police
[N] Girl, 16, dies after committing abortion
[N] Prof. Badu Akosa can't be our Chief – Kwahu Queen Mother
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Business

[ 2017-05-17 ]

Government’s debt to ECG hits 1.6 billion cedis
Government’s total indebtedness to the Electricity
Company of Ghana (ECG) has hit GH¢1,599,800,195 as
at March 2017.

The figure increased from the GH¢1,390,966,034
recorded as at December 2016.

This also represents a 15 percent increase in the
government’s debts owed the power distributor
between 2016 and March this year.

Government subsidy to some electricity consumers
of about 655 million cedis, was the highest
contributor to the debts owed ECG.

According to the ECG, government’s indebtedness
were accounted for by the Ministries, Department
and Agencies (MDAs), Ghana Water Company Limited
(GWCL) as well as the subsidies provided to some
consumers of electricity.

Debts attributable to government’s subsidies to
some electricity consumers rose from
GH¢573,240,363.58 to GH¢654,574,074.70 between
2016 and March this year.

This went up by 81.3 million cedis representing 14
percent increase.

Also, debts attributable to the Ministries,
Department and Agencies went up from
GH¢542,798,426 to GH¢621,470,595 as at March this
year.

The debt went up by 78.6 million cedis
representing an increase of 14.49 percent.

Similarly, debts attributable to the Ghana Water
Company Limited went up from GH¢274,927,244 in
2016 to GH¢323,755,252 as at the end of March this
year.

This category went up by 48.82 million cedis
representing about 18 percent.

Even though the government had made some payments
between January and March this year for debts owed
by the Ministries, Departments and Agencies, it is
yet to make any payments for debts accumulated due
to subsidies, this year.

Meanwhile, for the first five months (first 19
weeks) of 2017, ECG has collected
GH¢1,974,453,288.10 in debts from consumers.

This translates into an average debt collection
figure of GH¢103,918,594 compared to a target of
GH¢130,000,000.

Source - citibsinessnews.com



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